Forex Trading Apps for Beginners – When you start trading forex, you will need access to market news, data, prices and charts, and you will need easy access to your account when you want to trade. Because of this need, a wide range of applications have been created to be used on your mobile device.
Forex trading apps for beginners
Since the forex market is exceptionally volatile and driven by events, economic calendar apps with notifications have become typical tools for forex traders all over the world.
Nowadays, most brokers offer their clients access to mobile applications, whereby clients can access their accounts from anywhere, ensuring that they can take advantage of any opportunity or close their positions when they wish.
One of the popular Forex trading apps for beginners is NetDania. This app is very popular because it gives access to interbank forex rates, real-time prices for stocks and commodities, with information on over 20,000 financial instruments!
It even provides live and real-time charts, as well as the latest market news, while enabling forex traders to set trendline price alerts in order to stay on top of the latest market changes.
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Forex application
Another popular forex application is called Trade Interceptor. Available on iPhone and Android devices, it offers a wide range of options for traders to access technical analysis tools and technical charting indicators.
You’ll have access to live prices, charts, and the ability to set alerts for price levels, news, and economic calendar events.
Forex trading platforms
Forex trading apps for beginners is a software interface that allows traders to buy or sell currencies online. The platform can be online, mobile or downloadable and provides an interface that enables you to access the markets for trading.
In some cases, Forex trading apps for beginners are developed by your own broker, but the most widely used platform in forex is MetaTrader 4 or MT4 for short. Almost all forex brokers in the world will give you access to the MT4 platform.
It can be downloaded on all your devices. Since it is a Windows based software, it works effectively on all Android devices. You can even download it on Mac!
Forex trading websites
As you probably realized, there is a huge amount of information available online about forex trading. So, how can you find reliable and beneficial sources for your trading journey?
Well, as we explained earlier, education is very important when you want to start trading. That’s why we recommend sites like Baby Pips, which has a “School of Pipsology” section designed to help you learn the art of forex trading.
Other Forex trading apps for beginners available are those that provide you with news and updates about what is happening in the forex market. Our blog provides this kind of information, as well as sites like Bloomberg and Reuters that contain huge amounts of information.
How to learn forex trading? You must understand the significant impact of the financial instruments you trade on your success as a trader. For example, let’s imagine that you select a particular currency, and you find that its price has decreased significantly over the past three months. Using your knowledge of technical analysis, you can say that the price is likely to bounce back, so you will try to “catch the bottom”.
Forex market: trading hours
When you start trading, you are likely to ask yourself first, “When does the forex market open?” Well, there are 4 separate trading sessions in the forex market: Sydney, Tokyo, London and New York. These single sessions mean that the forex market is open on Monday morning and closed on Friday night!